Shelly Group combines open smart-home architecture, professional installer momentum, high margins, and rapid European market-share gains into a compelling small-cap growth story.
Overview
Shelly Group SE is a fast-growing European IoT and smart building specialist offering smart relays, meters, locks, circuit breakers, apps, cloud services, and emerging AI-enabled subscriptions. It combines an asset-light manufacturing model with strong European distribution, especially in DACH, and serves both DIY homeowners and professional installers. Customers value Shelly’s open, platform-agnostic, local-control architecture, compact retrofit design, and attractive pricing. Hardware dominates revenue today, but high-margin subscriptions are scaling quickly, while the professional B2B channel has become the key growth engine.